This review deals with new book of journalist and writer Andrei Ostalski “The Saviour of Capitalism. John Maynard Keynes and His Cross” published by Palmira publishing house. The book is intended primarily for the mass reader. The author does not compete with the dozens of studies on great economist written by professionals and designed for professionals. He tries in simple words and a fun way to provide the reader without economic background with the essence of Keynesian theory, with its critics and antagonists, as well as with the place that theoretical heritage of John Maynard Keynes takes in the contemporary battle of ideas. The reviewer believe that A.Ostalski successfully coped with the task and his book certainly will find its reader.
The article presents the assessment of the efficiency and results of the G20 Seul summit 2010. The author eveluates the decisions fixed in the documents and the real actions of G20 countries, perticullarly the USA role in the change of global economy in XX century and its role in global finance system today.
Curriculum vitae of the economist and philosopher J.M. Keynes is given. Some cogitative communications with other economists-theorists are traced
The monograph analyses both the Great Depression as "the black years" of capitalist world-system and alternative ways out the greatest crisis of the capitalist economy. Authors give main attention F.D. Roosevelt's "New Deal" as the Great Reform in USA but they considers also alternative European ways out the Great Depression (fascism versus liberalism corrected). A special attention is dedicated to mutual influence of Soviet and American economies during socialist industrialisation and "New Deal".
Monograph by S. Khasyanova «Upgrading Banking Regulation and Supervision in Russia in the line with International Standards» is devoted to the study of the development of banking regulation and supervision in Russia on the basis of international principles and standards. The process of implementation of international principles and standards of banking regulation in the Russian Federation and the following consequences are analyzed in the context of financial stability. Particular attention is paid to macroeconomic regulation and development of prudential regulations and requirements for banks, taking into account banking sector peculiarities. The regulation of systemic risk, identification of systemically important banks and applied to them a particular regulatory regime were investigated. The Deposit Insurance System and its role in enhancing the stability of banks as well as its directions of improvement are also considered in the study. The book is intended for professionals in the field of finance and banking, teachers and students of universities’ economic and financial departments.
The authors analyze BRICS cooperation as a possible resource for developing G20 and BRICS decisions on key areas of the international financial and economic architecture reform. The chapter starts with assessment of the BRICS members positions on the main dimensions of the reform, including: changing the global system of reserve currencies; international financial institutions governance reform; replenishment of resources of multilateral development banks, creation of new financial safety nets, establishment of the BRICS development bank; effective surveillance system with account of systemic importance of participating economies; overcoming of financial imbalances. Summing up the findings the paper puts forward recommendations for BRICS cooperation agenda on the international financial and economic system. The study helped identify BRICS shared positions on key areas of the international financial and economic architecture reform, and possible action lines for future cooperation.
Economic crisis in globalized world made inevitable forging of a system of governance which would prevent the international community from large scale upheavals in future. The 2008-2009 summits of G-20 gave hope of a possibility to form a global political leadership. So far the system of international governance is being mapped up and appears in the form of a triangle with UN, G-20 and the most influential international institutions (WTO, IMF, MB) as its three facets.
Writing the paper on the eve of the G20 summit in Cannes, the author expressed a view that except for French President Sarkozy, no one should be surprised by a disappointing outcome in Cannes. More importantly the author argues that this does not mean that the world economy will not be rebalanced just because the G-20 did not ordain the solution. Unsustainable imbalances will eventually be adjusted by economic forces. Refraining from meaningful and urgent collective action, the G-20 leaders choose to let the world rebalance itself more chaotically, with the inevitable result of making things harder for each other. This is not a collective leadership but a joint abdication of responsibility. To prove its usefulness, the G-20 must do more than help old and emerging economic powers agree to disagree. The paper asserts that if the G20 fails the test, it is only a matter of time when the new creditors will see it as in their individual interests to make common cause either to reform existing institutions or to create new ones free of the dominance of the debtor countries. The author concludes that we can only hope that a new grouping of major creditors arrives as the successor to the G-20 in time to avert a replay of the 1930s. The publication is prepared within the framework of a joint project of Russian International Affairs Council (RIAC) Project and International Organizations Research Institute of the NRU HSE "Increasing Effectiveness of Russia's Participation in G8, G20 and BRICS in accordance with Russian Priorities and National Interests".
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.